Roald Dahl Day, on September 13, celebrates the marvellous stories concocted by the author.  But what can reference to these tell us about the story relating to the appointed representative role within the insurance industry and specifically with the Gauntlet Group AR Network?

The Umbrella Man

This is a lesser-known Roald Dahl work but The Umbrella Man really represents all of our appointed representatives (ARs).  All are insurance broking professionals dedicated to getting clients the best combination of price and coverage (the insurance umbrella) for their clients’ risks.

Many become ARs because they do not believe their clients are well-served by their current insurance employers. Many clients are mere numbers on spreadsheets for consolidated insurance businesses that have absorbed their former, far more customer-focused brokerages through buyouts.  With all face-to-face contact and personalised treatment gone, along with any opportunity for clients to pick up the phone and speak to a named contact, insurance account executives, who care about their clients, believe they could deliver better service, if they set up their own brokerage and went back to a traditional local broker model.  There are many such account execs, all helping Gauntlet Group to drive a local broker renaissance.

Fantastic Mr Fox

Those appointed representatives who really make a go of their own insurance businesses in partnership with Gauntlet Group, tend to be high-flyers, who excelled at insurance sales, or client relationships, or both.  They have the confidence and track record to demonstrate that they built a book of business for others and so can do that for themselves, if they can tap into the comprehensive package of assistance that Gauntlet AR Network can provide.

Marvellous Medicine

You could say our AR Network provides all the marvellous medicine an appointed representative needs, if they are to really make their insurance broking business a success and make self-employment the best career move ever.

The Gauntlet AR Network offers all that any appointed representative, wishing to get off to a flying start, desires.  It helps them build solid foundations that will not crumble.  It provides them with first-class Acturis IT, to help drive and organise sales campaigns, as well as much more.  The network also offers access to over 200 insurers and facilities.

Furthermore, Gauntlet offers an AR the backing of a team of AR brokers, who can carry out placement for them, if they wish.  Alternatively, the team is there to just step in when needed, usually when the AR wants a holiday or needs a period of sick leave.

Add to this a very efficient accounting and administrative back-office team, who remove the burden of all non-core duties required of an insurance broker and the broker can simply get on with building their business through sales.  That is especially true when Gauntlet Group is simultaneously handling all FCA compliance duties as the AR’s principal.

Marketing support is also provided, along with Professional Indemnity insurance.  It is a money-cannot-buy package of support, available by partnering with Gauntlet Group.  Gauntlet acts as the appointed representative principal, in exchange for a commission split that effectively contributes to the cost of all the services with which the AR is equipped.  If they tot up what the price of all of this would be, it quickly becomes apparent that they are getting a bargain.

Such is the value delivered, even brokers who have de-authorised and relinquished direct authorisation, in order to become a Gauntlet AR, find they are better off financially once they partner with Gauntlet.  There is no point keeping 100% of a very small pot, when you could have a lesser percentage of a much bigger pot, available to you through access to insurer agencies, cutting-edge IT support and ready-made sales opportunities. De-authorising brokers truly leverage the buying power and unique structure of the Gauntlet AR Network.

Tortoise

Dahl’s book, Esio Trot, is an anagram of tortoise and, when appointed representatives join the Gauntlet Group AR network, it is fair to say that not all get off to a flying start.  This is where Gauntlet Group’s true partnering philosophy is so key and why our status, as a commercial insurance broker ourself, enables us to add value to the AR proposition in a way that slower starters really appreciate.  Our direct team will test sales approaches for you and share their expertise.  They will also provide sales leads to any AR – whether struggling to find clients or not.

It is in our interests to see every AR flourish and we devote many hours and much investment to this. Take, for instance, our three AR events per year, which help appointed representatives focus on their businesses and prevailing market opportunities.  This helps propel all ARs forward and lays the foundations, or conditions for, successful businesses and brokerages.

The Giant Peach

There is a lot of noise coming out of some AR networks but, if you look beneath this, there is a very blurred picture when it comes to network control and overseas ownership.  At Gauntlet Group, there is independence running through the organisation from top to bottom.  We are not beholden to overseas conglomerates or funders and can take decisions swiftly and on the basis of 30 years’ experience in running a broking business in the UK.

We are the network of choice for many well-established ARs, who are increasingly switching to us, because of our approach and our stability.  We may not be the biggest but we believe we are the best run, with nothing that could destabilise the network because growth has been too rapid, systems not put in place, or standards not kept high.  We have resisted becoming a fast-growing giant peach, because we believe in quality and getting things right.

The Twits

Part of our success is due to our recruitment strategy.  Our standards are uncompromising.  We want to see drive, commitment and experience.  Above that, we want to see a well-thought-out business plan and an individual with first-class ethics and morals.  We do not want people who are simply setting up a business in insurance broking because they struggle to hold a job or are trying to run before they can walk.  Our integrity as an AR network is all about taking on the right people and bringing them into our fold and ways of operating. We need chemistry with these individuals but also need to share the same values.

The Glass Elevator

Our inclusive appointed representative network will not hold anyone back.  If you want to reach for the top, all that will prevent you from doing that will be you, not your gender, race, or beliefs.

We also help our ARs reach the very top level, by allowing full access to insurers and not putting a limit on the size of risk you can place.  Other networks cannot say the same.

We help you work towards your goals right through your AR journey and even provide you with a brilliant exit route.  Here, you can either sell out in full to Gauntlet Group, whenever you are ready to retire, or you can take a staggered retirement, moving clients to us in phases, so you can still keep your hand in, maintain your social life (often interconnected with a broking business), and earn income to as great or as little extent as you wish.  Of course, you are still free to find another buyer but our appointed representatives tend to respect their clients and want to give them a smooth transition and the best possible service, right to the end of their broking career.  By keeping everything with Gauntlet, they can do that.

Champion of the World

We love to see our ARs succeed and even have our own annual Gauntlet Group Awards for our appointed representatives, to recognise outstanding achievements.

Whilst, once upon a time, the appointed representative role was a stepping stone to direct authorisation with the FCA, our model has become so attractive, in a market that has made direct authorisation so much less attractive, that many ARs simply stay with us and work in partnership with us, in the long term.  Together, we make them champions of their world – the local broking or specialist niche broking world – by leading a local broker renaissance and taking strides to put local brokers firmly back on the insurance map here in the UK.  As we say, working together, we are turning the tide on consolidation and putting clients back centre stage.

To find out more about becoming an appointed representative with Gauntlet Group, contact NigelLaw@GauntletGroup.com or call 07774 690436.  We are large enough to get you the leverage you want in the market but still sized in a way where we can treat every AR as an individual and nurture and mentor them.  Just think of us as a big, friendly giant!